Multi currency

Get Help & Support
1

We are a Canadian based company. Most of our transactions (AP / Invoices, G/L) are in Canadian Dollars. We do however purchase certain items in USD. Currently we do not have multi currency enabled.

I have the following questions:

  1. How do I go about activating a second currency (ie USD)
  2. Can the AP transactions for that second currency be mapped into a second AP account (ie AP USD) and can a standalone USD subledger be produced?
  3. In the voucher screen how do we specify that this is a USD transaction?

Thank you!

2

@ImperialController

Here is a video to help you in configuring additional currencies.. you would probably want to make sure the first currency added is the default.

I believe the ledger will always use the default currency, there is not a notion of sub ledger by currency. Once you have configured multiple currencies then all AP objects will make the currency selection available to you. You will also need to add currency conversion rates by date so that the system can capture the value on the ledger.

Thanks!

CetecERP Support

3

Hi again.

We currently have both the USD and the Canadian Currencies listed in data maintenance although both are showing as inactive.

How do I tell which one is set as default?

Thank you!

image
image1772×140 12 KB

4

@ImperialController I had a look at your configs.. it appears that your default currency was initialized as USD back in 2018. I can switch your default currency over to CAD and I believe since you have no active currencies then the values entered up to this point will just continue as before. Would you like me to do that for you?

Thanks

CetecERP Support